Hooboy, greenie...all these MJ price charts look so bad that according to some technical analysis indicators in about 6 days anybody looking to sell their pot stock is gonna have to pay the buyer to take it! We tried to catch a couple falling knives thinking the bottom might be near and got cut a little...but I suppose we shouldn't complain about a few minor finger lacerations when there are some people out there who just got both hands chopped off.
Brutal. I think we learned one thing the last 7 or 8 trading days...and that is diversification in the pot sector is pretty much a total joke at this stage. Generally speaking, if one skyrockets they all shoot up...and if one plummets they all drop like a rock. Doesn't matter if they are large-cap overvalued Canadian-based pot stocks or small-cap undervalued American-based ones or anything in between...if it's marijuana then odds are it's going up in smoke.
Eventually when the sector matures and real earnings become more important than overhyped pipe dreams then these companies will start to differentiate themselves based on performance but right now you only have to look at how a few are doing on a given day and you'll pretty much already know how the ones you own are probably faring.
He's got almost 2 dozen pot stocks in his precious portfolio and probably thinks having 3% in one pot stock here and 6% in another pot stock there and he's "diversified" enough to be protected. How much you wanna bet when he updates his spreadsheet he's got maybe 2 that are green if he's lucky and all the rest are red...down and down BIG. Even if he did have one big winner one day he's got himself spread out so thin it would get totally washed out in the noise.
Having that many stocks is insane, IMO...if watching 2 dozen quotes at one time hasn't already driven that dude totally bonkers yet he'll get there soon. Not saying putting all your chips on just 1 or 2 is a terrific idea either but there's gotta be a good compromise somewhere in between...maybe half a dozen give or take. Still think CannaRoyalty should be one of those half dozen or so for those thinking longer term...but in this environment right now it's gonna be mighty tough for one to shine while almost all the others are on life support...although MariMed was able to do just that today.
Not to mention we got a bunch of IPOs coming out over the next few weeks so those might siphon off $100 billion or thereabouts (maybe a lot less now!...LOL) that ain't gonna go into some of the existing ones that need an injection bad. The news just keeps getting better and better, don't it???
BTW, in that Midas Letter video I posted to you yesterday on the MPX board between the iAnthus & MPX CEOs he did an interview of a MJ hedge fund manager and he mentioned CannaRoyalty as one of his core holdings. The conversation was pretty interesting and informative so you might wanna check it out sometime when you feel like taking a break from waiting for your pot stocks to come out of their death spiral.
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